Lotte Department Store Busan Gwangbok Branch, Aqua Mall and Entertainment Building, which were on the verge of business suspension due to the non-approval of extension of the temporary use approval period, will be able to operate normally from today (2nd).
Busan City and Lotte side signed a business agreement for the smooth promotion of the Busan Lotte Tower construction project at Busan City Hall at 10 am today.
Prior to this, the city extended the temporary use authorization for commercial facilities such as the Lotte Department Store Gwangbok branch located on the same business site as Lotte Tower at 9 am.
Even before the official completion, department stores, etc. can operate if they receive temporary use approval.
The original deadline for temporary use approval for Lotte Department Store's Gwangbok branch was the 31st of last month, but the city of Busan announced that it would not extend the deadline on the same day.
The city did not see any intention to build the 300-meter-tall landmark Lotte Tower, and in this situation, it was cited as the reason that commercial facilities such as department stores that preceded Lotte Tower cannot additionally be allowed to operate.
Accordingly, the Lotte Department Store Gwangbok Branch decided yesterday (the 1st), a temporary holiday following the local election, as a regular holiday, suspended business and continued negotiations with the city of Busan.
At today's signing ceremony, Busan Mayor Park Hyung-joon, Lotte Holdings CEO Song Yong-deok, and Lotte Shopping CEO Jung Jun-ho were in attendance, and Lotte explained the specific Lotte Tower construction plan.
By setting the early construction of Lotte Tower as the group's top priority, we set the goal of building a landmark building representing the region by 2025.
The goal is to advance the construction by one year from the previously announced goal of 2026 by Lotte.
In addition, we decided to select the name of the Lotte Tower through a citizen contest, and to make efforts to revitalize the local economy and the top priority for local businesses to participate in the construction process and after completion.
Lotte also included in the agreement that it would actively support the bid for the 2030 Busan World Expo by using its global network.
Mayor Park Hyeong-jun said, "The construction of Lotte Tower has not been carried out for decades for various reasons, so the citizens were sorry, and there is no place to back down anymore."
CEO Song said, "We will do our best to make Lotte Tower the best landmark in the region and establish itself as a cultural and leisure space. I did.
CEO Jung said, "I sincerely apologize for the delay in the development of Lotte Tower.
Lotte Tower received a building permit with 107 floors (428m) in 2000, but the project drifted for a long time over a plan to secure business feasibility.
However, in 2019, the plan was reduced to a 56-story (300m) scale equipped with a public arboretum, and the following year, the Busan City Landscape Review Committee decided to re-examine it, and the plan was delayed again.
Lotte Shopping recently maintained the height of the Lotte Tower at 300 m, completely changed the design to the shape of waves on the bow when the ship is running, and applied for landscape review again, and it was conditionally passed on the 26th of last month.